Blockchain Firms Must Respect AML Laws, Swiss Say

Law360 (August 26, 2019, 6:04 PM EDT) -- Swiss regulators on Monday published guidance affirming that blockchain-based businesses must follow the country's stringent anti-money laundering standards as the nation granted its first two banking licenses to such businesses.

Swiss watchdogs have warned that the anonymous nature of the technology behind blockchain offers criminals and terrorists money-laundering opportunities. (AP) Stating that it recognizes the innovative potential of new technologies for financial markets, the Swiss Financial Market Supervisory Authority cautioned that the anonymous nature of blockchain technology presents money-laundering opportunities for criminals and terrorists.

The agency, known as FINMA, said it will apply financial laws regardless of the underlying technology. The...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!